ProShare Advisors LLC Sells 6,209 Shares of ATI Inc. (NYSE:ATI)

ProShare Advisors LLC cut its holdings in ATI Inc. (NYSE:ATI) by 23.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,772 shares of the basic materials company’s stock after selling 6,209 shares during the quarter. ProShare Advisors LLC’s holdings in ATI were worth $1,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after purchasing an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of ATI by 3.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of ATI by 4.3% during the first quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after acquiring an additional 239 shares during the period. Nvwm LLC boosted its holdings in ATI by 2.1% in the first quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after acquiring an additional 334 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in ATI by 46.5% in the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 593 shares during the period.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the transaction, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

ATI Trading Up 1.5 %

ATI opened at $66.27 on Friday. The firm’s fifty day moving average is $63.16 and its two-hundred day moving average is $58.16. The firm has a market cap of $8.25 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.04. ATI Inc. has a twelve month low of $35.03 and a twelve month high of $68.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that ATI Inc. will post 2.48 EPS for the current year.

ATI announced that its board has approved a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on ATI shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. BTIG Research initiated coverage on shares of ATI in a research note on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Susquehanna started coverage on ATI in a research note on Thursday, September 5th. They issued a “positive” rating and a $75.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, ATI has an average rating of “Moderate Buy” and a consensus target price of $74.00.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.